The Federal Government has introduced a new online platform aimed at improving the marketing and sale of homes being constructed through the Renewed Hope Cities and Estate Programme. The platform, called the Renewed Hope Housing Online Portal, was launched by Arc. Ahmed Musa Dangiwa, the Minister of Housing and Urban Development, on Wednesday, according to information provided on the Ministry’s website.
Arc. Dangiwa described the portal as a key advancement in overcoming barriers to homeownership for Nigerians. It is intended to support the creation of technological systems and foster private sector initiatives that simplify and enhance the home buying process.
The Renewed Hope Housing Online Portal features an intuitive design, ensuring a smooth and secure registration process with identity verification. Prospective homeowners can use various filters to search for properties that fit their preferences and needs.
The platform provides various payment options, including one-time payments and installment plans, to accommodate different financial situations. Additionally, it offers access to mortgage plans, allowing users to check their eligibility and apply from anywhere in the world. The portal also supports equity contributions, broadening its accessibility.
In the coming months, the Federal Government will initiate 250-unit housing projects in states such as Abia, Nasarawa, Benue, Akwa Ibom, Delta, Sokoto, Oyo, and Osun, and will launch a major Renewed Hope City project in Lagos.
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Ownership options for the Renewed Hope Cities and Estates include single-digit interest rate mortgages of up to 30 years from the Federal Mortgage Bank of Nigeria, rent-to-own programs, and direct purchases for higher-income individuals. This initiative operates on a cross-subsidy basis, with 80% of units sold at market rates and 20% offered at discounted rates to low- and medium-income Nigerians associated with the Nigeria Labour Congress and the Trade Union Congress.
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